Product ID: UCMIR25Q2002
Report ID:
UCMIR25Q2002 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The food service market in China had a market size of USD 454.80 billion in 2022 and is expected to experience growth, reaching USD 1,061.16 billion by 2030, with an anticipated compound annual growth rate (CAGR) of 11.21% throughout the forecast period, starting from USD 504.52 billion in 2023. This market encompasses various establishments that serve meals and snacks for on-site consumption or takeout, including full-service restaurants, fast-food outlets, select cafeterias, and similar venues focused on food preparation, service, and sales to consumers. China stands as a swiftly progressing player in the food industry, predominantly due to its substantial consumer base, dominating the food and beverages consumption sector
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Restaurants by segment aggregation, the contribution of the Restaurants in Consumer Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIR25Q2002